Royal Bank Of Canada (NYSE:RY) Downgraded by Wall Street Zen to Sell

Key Points

• Royal Bank Of Canada has been downgraded by Wall Street Zen from a "hold" rating to a "sell" rating, indicating a shift in market sentiment regarding the stock.
• Despite the downgrade, other analysts have mixed views, with Argus upgrading their price target to $162.00 and maintaining a "buy" rating, while Barclays rated it "overweight".
• Royal Bank of Canada reported an EPS of $2.79, exceeding expectations, but fell short on revenue estimates with $12.26 billion against an anticipated $16.03 billion.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Saturday.

Other equities research analysts have also recently issued reports about the company. Argus increased their price target on Royal Bank Of Canada from $140.00 to $162.00 and gave the company a "buy" rating in a research note on Friday, August 29th. Barclays reiterated an "overweight" rating on shares of Royal Bank Of Canada in a research note on Thursday, August 14th. CIBC cut Royal Bank Of Canada from a "sector outperform" rating to a "neutral" rating in a research note on Friday, September 5th. Weiss Ratings reissued a "buy (b)" rating on shares of Royal Bank Of Canada in a report on Wednesday. Finally, Cibc World Mkts lowered Royal Bank Of Canada from a "strong-buy" rating to a "hold" rating in a report on Friday, September 5th. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Royal Bank Of Canada currently has a consensus rating of "Moderate Buy" and an average price target of $177.50.

Royal Bank Of Canada Trading Down 1.1%

Royal Bank Of Canada stock opened at $143.61 on Friday. The stock has a 50-day moving average of $142.13 and a two-hundred day moving average of $130.34. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.82 and a current ratio of 0.82. Royal Bank Of Canada has a one year low of $106.10 and a one year high of $149.26. The stock has a market cap of $201.82 billion, a PE ratio of 15.16, a price-to-earnings-growth ratio of 1.47 and a beta of 0.86.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last released its quarterly earnings results on Wednesday, August 27th. The financial services provider reported $2.79 EPS for the quarter, beating analysts' consensus estimates of $2.36 by $0.43. Royal Bank Of Canada had a return on equity of 16.12% and a net margin of 14.03%.The company had revenue of $12.26 billion during the quarter, compared to analysts' expectations of $16.03 billion. During the same period last year, the business posted $3.26 earnings per share. The firm's revenue was up 16.1% compared to the same quarter last year. On average, research analysts anticipate that Royal Bank Of Canada will post 9.16 EPS for the current fiscal year.

Institutional Trading of Royal Bank Of Canada

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Campbell & CO Investment Adviser LLC grew its holdings in Royal Bank Of Canada by 1,187.6% during the first quarter. Campbell & CO Investment Adviser LLC now owns 25,740 shares of the financial services provider's stock worth $2,901,000 after acquiring an additional 23,741 shares during the period. Baskin Financial Services Inc. boosted its position in Royal Bank Of Canada by 5.0% during the first quarter. Baskin Financial Services Inc. now owns 62,855 shares of the financial services provider's stock worth $7,079,000 after purchasing an additional 3,006 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in Royal Bank Of Canada by 1.1% during the first quarter. Envestnet Asset Management Inc. now owns 341,776 shares of the financial services provider's stock worth $38,525,000 after purchasing an additional 3,767 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Royal Bank Of Canada by 4.4% during the first quarter. JPMorgan Chase & Co. now owns 6,458,212 shares of the financial services provider's stock worth $727,970,000 after purchasing an additional 271,531 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in Royal Bank Of Canada by 4.0% during the first quarter. PNC Financial Services Group Inc. now owns 86,847 shares of the financial services provider's stock worth $9,789,000 after purchasing an additional 3,358 shares in the last quarter. 45.31% of the stock is owned by institutional investors and hedge funds.

About Royal Bank Of Canada

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.

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